New school cost announced

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The North Reading Board of Selectmen, the School Committee, and the Secondary School Building Committee on Monday evening held a joint meeting to announce the guaranteed maximum price for construction of the new high school and the renovation and addition to the middle school. According to Town Administrator Greg Balukonis, the expected price is $101,452,133, bringing the revised project budget to $122,652,133, which includes “soft costs,” including architectural expenses, project management costs, and contingencies. Voters last year approved a $107.7 million project. However, costs are higher than anticipated due to site issues and changes in the construction market. As a result, voters will be asked to approve an additional $15.5 million for the project at Town Meeting Monday, and at a special election Friday. “The additional funding is critical if the project is to be completed as it was envisioned,” Balukonis wrote in an e-mail. “The Board of Selectmen and School Committee voted unanimously to recommend approval of the supplemental project funding.”

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